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招银证券2月17日发布公告。Maintain BUY. Orelabrutinib is also under assessment for the treatment of other autoimmune diseases, including SLE, ITP, and NMOSD. Particularly, based on positive PoC data on SLE, a potentially registrational Ph2b study of SLE has been started. We are still interested in orelabrutinib’s potential for autoimmune disease, besides its success in oncology. InnoCare has a sufficient RMB7.7bn net cash as of Sep 2022. We revised our TP from HK$20.14 to HK$10.84 (WACC: 10.11%, terminal growth rate: 3.0%).